Payday Loans in Quechee, Vermont

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No payday loan companies in Quechee, VT. Consider companies in other cities:

Company nameAddressZip codePhone number
TD Bank 2 Church St, Bellows Falls, VT 05101 +1 (802) 463 - 4511
GHP Advisors PC 131 Main St, Burlington, VT 05401 +1 (802) 863 - 5099
Davis & Hodgdon Associates CPAs 225 S Main St, Rutland, VT 05701 +1 (802) 775 - 7132
United States Postal Service 75 Main St, Shoreham, VT 05770 +1 (800) 275 - 8777
Berkshire Bank 20-22 West St, Rutland, VT 05701 +1 (802) 773 - 5477
People's United Bank 6 Main St Suite 1, Springfield, VT 05156 +1 (802) 885 - 2175
Community National Bank US-5, Derby, VT 05829
Jared A Larrow - Ameriprise Financial Services, LLC 2 Church St 4f, Burlington, VT 05401 +1 (802) 865 - 2326
TD Bank 39 Main St, Stowe, VT 05672 +1 (802) 253 - 7368
Community Bank, N.A. 25 Monkton Rd, Vergennes, VT 05491 +1 (802) 877 - 3143

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Quechee, VT, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Burlington, VT. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Quechee, VT.

Beautiful sights of Quechee, VT

Payday Loans Available in Quechee, VT By The Following ZIP Codes:

05059

Are Payday Loans Legal In Quechee, Vermont?

Payday Lending is Prohibited in Vermont

Vermont Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Quechee, VT payday loan calculator

If you’re in need of quick cash in Quechee, Vermont, you may be considering payday loans. However, it’s essential to know that payday loans are prohibited in Vermont. In this article, we’ll explore the details of payday loans and why they’re illegal in Vermont.

What are payday loans?

A payday loan is a small, short-term loan with a high-interest rate. These loans are often taken out by people who need fast cash and have no other options. Borrowers typically provide post-dated checks or authorization to withdraw funds from their bank account on the date of their next paycheck.

Why are payday loans illegal in Vermont?

In 2012, Vermont became the first state to ban payday loans. This was due to concerns about the high-interest rates and fees associated with these loans. While payday lenders argued that they provided a necessary service for people in need of quick cash, Vermont lawmakers saw them as predatory lenders who trapped borrowers in cycles of debt and financial ruin.

Since then, other states have followed Vermont’s lead and enacted similar laws to ban payday loans or cap their interest rates.

What are the alternatives to payday loans in Vermont?

If you’re in need of cash in Vermont, there are several options to consider.

  • Personal loans: These loans have lower interest rates than payday loans and offer longer repayment terms. You can borrow from a bank or credit union or use an online lender.
  • Credit card cash advance: If you have a credit card, you can use it to get a cash advance. However, keep in mind that this option also comes with high-interest rates and fees.
  • Government assistance programs: If you’re struggling financially, you may be eligible for government assistance programs like Medicaid or the Supplemental Nutrition Assistance Program (SNAP).

Interesting facts and statistics about payday loans in Vermont

  • Vermont was the first state to outlaw payday loans in 2012.
  • A 2016 study found that only 1% of Vermont households have taken out payday loans since the ban was enacted.
  • The average interest rate on payday loans in the US is 391%.
  • Payday loans trap borrowers in a cycle of debt, with the average borrower taking out eight loans per year and paying over $500 in interest fees.

Apply for a loan with TheGuaranteedLoans

While payday loans aren’t an option in Vermont, you can still apply for a personal loan with TheGuaranteedLoans. We’re a connector service that helps match borrowers with lenders who offer personal loans with reasonable interest rates and terms. Fill out an online application today and get the cash you need with the help of TheGuaranteedLoans.

F.A.Q.

What are the penalties for offering or taking out a payday loan in Quechee, Vermont?

Offering or taking out a payday loan in Quechee, Vermont is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Quechee, Vermont?

No, there are no exceptions to the payday loan prohibition in Quechee, Vermont.

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